Common use of Appraisal Plan Clause in Contracts

Appraisal Plan. Any Appraisal Plan submitted pursuant to Article 5.1 shall establish the content of the Appraisal activities for a period of up to three (3) Years from the date of approval of such plan (the “Appraisal Period”). The Appraisal Plan for the Discovery shall cover the entire area of the structure in which the Discovery was made (the “Appraisal Area”), and shall contain at least the items indicated in Annex 6, with a scope broad enough to allow for an evaluation to determine whether the Discovery can be considered a Commercial Discovery. The Appraisal Plan may include the re-appraisal of any Discovery within the Contract Area which has not been declared as a Commercial Discovery. The Contractor may request, by written notice to the CNH within sixty (60) Days prior to the termination of the Appraisal Period, the extension of this period in order to complete ongoing activities contemplated in the Appraisal Plan that for reasons not attributable to the Contractor are impossible to conclude within the period referred to in this Article 5.2. The CNH will approve the extension in terms of the Applicable Laws. The CNH will decide on the proposed Appraisal Plan within a period not to exceed sixty (60) Days following the receipt of the necessary information pursuant to the Applicable Laws. The CNH will base and motivate its resolution.

Appraisal Plan. Any Appraisal Plan submitted pursuant to Article 5.1 shall establish the content of the Appraisal activities for a period of up to three (3) Years from the date of approval of such plan (the “Appraisal Period”). The Appraisal Plan for the Discovery shall cover the entire area of the structure in which the Discovery was made (the “Appraisal Area”), and shall contain at least the items indicated in Annex 6, with a scope broad enough to allow for an evaluation to determine whether the Discovery can be considered a Commercial Discovery. The Regarding the Discovery in Trion field, the Appraisal Plan, in addition to the provisions of this Article 5.2, shall comply with the Minimum Work Program established in Annex 5 hereto. Any Appraisal Plan may include the re-appraisal of any Discovery within the Contract Area which that has not been declared as a Commercial Discovery. The Contractor may request, by written notice to the CNH within sixty (60) Days prior to the termination of the Appraisal Period, the extension of this period in order to complete ongoing activities contemplated in the Appraisal Plan that that, for reasons not attributable to the Contractor Contractor, are impossible to conclude within the period referred to in this Article 5.2. The CNH will approve the extension in terms of the Applicable Laws. The CNH will decide on the proposed Appraisal Plan within a period not to exceed sixty (60) Days following the receipt of the necessary information pursuant to the Applicable Laws. The If the CNH denies the approval of the proposed Appraisal Plan, the CNH will base and motivate its resolution.

Appraisal Plan. Any Appraisal Plan Program submitted pursuant to Article 5.1 shall establish the content of the Appraisal activities for a period of up to three (3) Years from the date of approval of such plan program (the “Appraisal Period”). The Appraisal Plan Program for the Discovery shall cover the entire area of the structure in which the Discovery was made (the “Appraisal Area”), and shall contain at least the items indicated in Annex 6, with a scope broad enough to allow for an evaluation to determine whether the Discovery can be considered a Commercial Discovery. The Regarding the Discovery in Trion field, the Appraisal Plan Program, in addition to the provisions of this Article 5.2, shall comply with the Minimum Work Program established in Annex 5 hereto. Any Appraisal Program may include the re-appraisal of any Discovery within the Contract Area which that has not been declared as a Commercial Discovery. The Contractor may request, by written notice to the CNH within sixty (60) Days prior to the termination of the Appraisal Period, the extension of this period in order to complete ongoing activities contemplated in the Appraisal Plan that Program that, for reasons not attributable to the Contractor Contractor, are impossible to conclude within the period referred to in this Article 5.2. The CNH will approve the extension in terms of the Applicable Laws. The CNH will decide on the proposed Appraisal Plan Program within a period not to exceed sixty (60) Days following the receipt of the necessary information pursuant to the Applicable Laws. The If the CNH denies the approval of the proposed Appraisal Program, the CNH will base and motivate its resolution.